How home insurance actually helps you save money

Most of us would prefer not to think about such eventualities as the severe damage to our homes or the loss of all our cherished personal possessions. Such a prospect is an extremely unsettling one, particularly if you are one of the minority of people who has not taken out any home insurance to protect you against such a scenario. Taking steps to remedy this could not only increase your peace of mind about what lies around the corner, but actually save you money in the long run.

Unforeseen costs


With most households running on tightly managed budgets, it is always an unappealing idea to consider an additional outgoing. However, the most difficult costs to meet are always those which arise unexpectedly and suddenly, particularly if urgent action is a complete necessity. Any number of natural or man-made disasters have the potential to strike at any given time, and if the equivalent of a burst pipe or tree felled by lightning leaves you obliged to take urgent action, there are few of us who would have unlimited funds at our disposal to deal with the problem. Loans companies prey on such desperate cases, and charge inordinately high interest rates for repayment, meaning the monthly cost that you are initially trying to avoid could in fact end up much higher. Taking the time to look for cheap buildings insurance and paying a small amount on a monthly basis means that you are in control of your outgoings, secure in the knowledge you are protected for the future.

Personal liability


In today’s litigious culture of blame and compensation, people are bombarded by adverts from personal claims lawyers who want to pursue legal action following an injury on a ‘no win no fee’ basis. While it may seem that the main targets of these damages suits are companies or employers, you are also at risk of facing legal proceedings if someone is injured in your home. Anyone who has had dealings with a lawyer will know the huge cost and stress that can be involved in any case, and how much it is desirable to avoid such a process. By taking out home insurance you could receive financial assistance and advice from your provider if someone sues you following an injury in your property.

If you would like any more information on how home insurance could help you save money when faced with any unfortunate eventuality, look online at a reputable provider such as Swiftcover.

About Pepper

I am a single working mom, trying to raise my kid the best way I know how. Join me as I navigate my way through the jungle that is Single Mom-hood, armed with rose-colored glasses and strength of spirit. As pepper adds spice to food, so does my daughter add spice to my life. She makes life no less than…PEPPERRIFIC!

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  1. Christine says

    You should instead be covering (the “sum insured”) the rebuild value, which is simply the cost of rebuilding the property if it were knocked down.

    So the real key isn’t location, but cost of materials, labour and architects. However it’s important any building policy covers the cost of somewhere for you to stay while your home’s rebuilt.

  2. I’m not even aware if home insurance exists here in our country. All I know are housing loans, haha. :)

  3. I don’t have a HOME INSURANCE but I have my BUSINESS INSURED. Property and Building Insurance,just a small business insurance and a great help for me then.

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